Watermark Lodging Trust Acquires Hotel In Chicago For $84.3M With Lender Wells Fargo
1 West Wacker Drive, Chicago, IL, USA
$84,300,000
$174/SF
Building Size
482,300 SF
Asset Type
Hotel
Closing
Dec 17, 2020
About this deal
AI
A hotel located at 1 W. Wacker Dr in Chicago was recently involved in a loan transaction. The transaction took place on 12/18/2020, and the loan amount was $84,300,000. The hotel is owned by Watermark Lodging Trust, with Michael Medzigian being the landlord. The property has a total of 553 keys.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $84,300,000
- Address: 1 W. Wacker Dr
- Market: Chicago
- Landlord: Watermark Lodging Trust - Michael Medzigian
- Keys: 553
Wells Fargo acted as the lender in this loan transaction.
On the Map
$84,300,000
$174/SF
Hotel
View full map
Players
Chicago Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
Deal FAQ
Browse Illinois hotel loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93